A Wyoming bill of sale is essential for transferring high-value items like automobiles or boats. It serves as a legal record of the transaction, proof of ownership, and protection for the parties to the sale.
A properly filled-out bill of sale should include important details such as:
Mandatory Information
Identity of the parties
Description of the purchased items
Relevant disclosures
The agreed-upon price
Once both parties have signed the document, it becomes a legally binding contract that can be used as evidence in court if necessary.
Therefore, whether you’re buying or selling a motor vehicle, boat, horse, trailer, or any other item in Wyoming, get a bill of sale to protect your interests and ensure a smooth transfer of ownership.
Wyoming Bill of Sale Parties
The first step in drafting a bill of sale is identifying the parties to the transaction. They are generally referred to as the seller and the buyer.
Seller
On the seller's side, there is a private individual or a professional dealer. They possess specific items that the buyer is interested in purchasing.
Buyer
The buyer can also be a private party or a professional. They take possession of the item and pay the seller the agreed-upon price.
Buyer and Seller Disclosure
When selling a car, the seller must attach an odometer statement to show how many miles the car has been driven and certify that the mileage given is correct.
Similarly, if an item is being sold without any warranties or guarantees, the "as-is" clause should be included in the bill of sale. This means that the item is being sold in its current condition, and the buyer is aware of any issues that may be present.
It's also essential to include any flaws or defects of the goods. This protects the seller from future liability and ensures that the buyer is fully informed about the condition of the item.
Wyoming Bill of Sale Description of Goods
The purpose of this section is to clearly identify the item and differentiate it from others. Therefore, give detailed information about the purchased item, including any unique characteristics.
The specifics depend on the type of item being sold. For example, if a motor vehicle is being sold, the description should include details such as the make and model of the vehicle, its Vehicle Identification Number (VIN), color, and odometer reading.
Wyoming Bill of Sale Purchase Price
Once the goods have been fully described, the next important section is the price of the goods and the payment method.
#1. Payment
In most cases, the payment for the goods is in the form of money and can be made in installments. The cost of the item as well as the method of payment (cash, credit card, or other agreed-upon methods) are all detailed in the bill of sale.
#2. Trade
If the goods are being exchanged, the value of the exchanged item should be specified in the bill of sale. In addition, if one of the items is worth less than the other, the bill of sale should clearly state a cash amount up to the total value.
#3. Gift
In some cases, goods are given as gifts, in which case there is no monetary value given in return. However, it's still important to clearly state that the item is a gift or note that it's being sold for “no charge” or for a value of “0.”
Wyoming Bill of Sale for Motor Vehicles (Cars) Requirements
According to Wyoming law, the ownership transfer of a motor vehicle can only be completed through a title transfer. Once this process is complete, the buyer receives a new title in their name and can register the vehicle.
To register the vehicle, the new owner must submit a comprehensive list of documents, such as the vehicle title, the Application for Certificate of Title, proof of insurance, a bill of sale, and other relevant papers, to the clerk's office and pay applicable registration fees.
Regardless of whether the vehicle is purchased from a private seller or an official dealer, the bill of sale should include the following information:
Mandatory Information
Names, addresses, and contact information of the buyer and seller
Make, mode, year, and vehicle color
Title details
Odometer reading statement (attached to the bill of sale)
Description of any flaws
Purchase price and date of sale
Signatures of both parties
Out-of-State Vehicles
When buying a vehicle outside of Wyoming, it's mandatory to register it. To successfully register the vehicle, it must first pass an inspection that includes filling out a VIN inspection form. Next, the buyer must bring this form to the clerk's office along with the vehicle's title, out-of-state registration, and proof of insurance.
Abandoned or Junk Vehicles
Salvage vehicle means any motor vehicle that has been destroyed or damaged. To sell or buy such a vehicle, the owner must apply for a Wyoming Salvage Title. The official clerk’s office then issues a title qualified as a “brand,” which indicates the vehicle’s history and condition.
Lastly, the seller must disclose the vehicle title and brand to the buyer.
Vehicles Sold by Dealers
It is common practice for dealers to file a title and registration application for the buyer. On the other hand, creating a bill of sale for such purchases is a good idea because it provides proof of the transaction.
Vehicles Sold by Private Parties
For any private vehicle transaction in Wyoming, a bill of sale with relevant information about the parties and the vehicle is desirable. For additional validity, the parties may notarize their signatures.
Wyoming Bill of Sale for Boats (Vessel) Requirements
In Wyoming, individuals who purchase motorboats are required to obtain a title for the boat to establish ownership. A bill of sale must be obtained for that purpose and should include:
Mandatory Information
Seller's and buyer's names and addresses
Model, make, and year of boat production
Hull identification number (HIN)
Purchase price
Odometer reading
Signatures of both parties
Additionally, buyers can operate their boat on a notarized bill of sale for up to 30 days, according to the Wyoming Game and Fish Department.
Wyoming Bill of Sale for Firearms Requirements
Registration of firearms is not required in Wyoming. However, the parties usually fill out the necessary information and sign the bill of sale. This will ensure that the weapon is not sold to someone prohibited from possessing it and minimize their legal responsibility following the sale.
Wyoming Bill of Sale for Horses Requirements
The horse bill of sale in Wyoming should include the following elements:
Mandatory Information
Parties' personal and contact information
Horse breed, age, and gender
Description of the horse’s health condition and health inspection report, if any
Purchase price
Signatures of the seller and the buyer
Wyoming Bill of Sale for Trailers (RVs) Requirements
To register a trailer and get a title in Wyoming, you need a bill of sale if the trailer is purchased:
From a state that does not require trailers to be titled, you will need a properly completed bill of sale, a vehicle identification number inspection, and an affidavit of ownership or the seller's past trailer registration.
In Wyoming, and was not previously required to be titled (before January 1, 2010). You will also need a properly completed bill of sale, a vehicle identification number inspection, and a copy of the seller's past registration or an affidavit of ownership.
Wyoming Bill of Sale Other Requirements
Although parties can draft a bill of sale in any language they understand, in the process of registration and obtaining a title with the Wyoming authorities, the bill of sale must be in English.
It is important for both parties to keep a copy of the bill of sale for their personal records, in addition to providing a copy for registration when required.
Wyoming Bill of Sale Taxes
The sales tax on purchases in Wyoming is 4%, but it can go up to 5% when additional county and city sales tax rates are included.
A handwritten bill of sale becomes legally binding when the seller and the buyer sign it.
The bill of sale must be signed by both the seller and the buyer, who may choose to have their signatures notarized for additional safety.
Our website provides an easy-to-use template for transferring ownership of personal property. Simply download the bill of sale template, fill in the necessary information, and enjoy a hassle-free transfer process.
The bill of sale provides benefits for both the seller and buyer in a sale transaction.
By signing the bill of sale, the seller can limit their responsibility after the ownership transfer. On the other hand, the buyer benefits from the bill of sale by having valid proof of ownership for items that do not have a title, which can be useful in the event of any future disputes or issues.